Topic: [CENT] Pennies launched - page 15. (Read 135142 times)

the thing is, if cryptsy does not update their wallet in time, even if you keep the old version, you and others using the old wallet will connect to each other and stake, then you can sell. the fork is dependent on mutual understanding thst the fix is needed. but if more people choose to be greedy, then......lol

If someone will setup abe for cents and process blockchain maybe he can answer that question.. blockchain must have this info

Sell half at least because everyone else will be dumping as soon as the monster stake rewards are done. Even if people all held and just sold on their new interest i doubt there would be enough purchasing to lift it above 1 or 2 on the xpm market.

How many trillions are the out there is what i wonder?

Sorry. After running the client wallet for almost two days for a complet synchronization, it shows I have received my 0.1 billion coins from Cryptsy.

I withdrawed 0.1 billion of cent, o.o5 billion once a time, two times altogether. Sorry not expressed the whole thing in a clear way.

----------------------------------------
cent:  PQzKYxc4c9e9oz2h9stdLr5cC6Br1iq6Jv

cant find the fucking wallet anywhere.
what will I do with my millions now? ;/

Dear Petr1fied and Cat_man,
I use the 10.0 ver., but it has been in sync few days, and the blocks sometimes less and sometimes increase.
And, when I receive interest(Savings Interest ***** CENT), but after a few min it disappeared(become 0 CENT), and the Savings has not increase, why?
Many thanks.

I just extracted the new client into a different directory, opened up the new qt, and it seemed to pick up my wallet just fine

asking again because no one could help me, I've never had to update a qt before so i would really like to not mess this up.

I just need to know how to how the update works. my 0.9.6 wont connect to a chain so i'm hoping i can just update the client. any help would be great

I'm pretty sure max withdrawal at a time is 99,999,999, and if so, you went over the limit and Cryptsy should have given you an error. Are you sure your funds are not still in your Cryptsy account?

On the new year's day I realised that most of my outputs are 170 million in size, meaning they won't be able to generate 10x stake...

Saddening... I thought I would be able to get 20 billion after Jan 8, now it seems I'll only be able to get 8 billion...

I've withdraw 0.1 billion of centcoins from Cryptsy, but received nothings. There are still bugs in wallet client 0.10.0.0.

Thank you for the concise yet detailed explanation so I don't have to go read that whitepaper.

I think cryptsy bundles all of the buy orders that are exactly the same price into the same line. In other words, this could be dozens of people trying to all buy cent at the same price.

For your information about POS and POW and how they relate to another coin that uses POS for security.

http://peercoin.net/bin/peercoin-paper.pdf

So what would happen if a group of people gained 51% of the CENTS out there?  Cause it's very odd someone is still buying up trillions as fast as they're being sold at .00000001 XPM even with XPM being double the price now.

I think something big is cooking.

Well this was a great ride people. Should I keep staking my 3 trillion CENT or should I sell it off and allow the person(s) that are buying it up at a great pace to control 51% of the coins as well as the network hash rate?

No. Read it from the source... go google Proof of Stake whitepaper. If you cannot digest it in words why do I need to go out of my way to make you a picture book?

Thanks for the explanation.  I (mostly) understand the concept of PoS just wasn't completely understanding the criteria to obtain a PoS reward.

This is far too difficult to understand, can you post info-graphics or pictures to explain the process?

I really wish more people would take the time to read the PoS whitepaper...

There is no magic... stake is a reward for participating in the network...

The point of stake is for users to hold coins and have the client open a lot more often than a normal PoW coin would. The object is to stave off 51% attackers because so many people have valid nodes working by keeping their wallets online.

To encourage this, PoS will take a block of coins in the wallet that has met a certain time criteria, and will ATTEMPT to use the CPU to MINT a PROOF OF STAKE BLOCK... this is a valid block in the chain... just like a normal PoW block. PoS blocks can contain and confirm transactions just like a normally mined PoW block, and thus must also meet the same criteria as a PoW block, as in it must be accepted by the blockchain and all the other peers... it is possible to have a PoS block orphaned because another block was generated at the same time by another user.

The whole idea was created for PPC so that one day... no hardware would ever need to be used to mine blocks when the final PoW block is minted... a more energy efficient chain can be maintained and transactions verified just by users keeping their wallets alive and PoS blocks minting. That is why there is even a separate difficulty associated with PoS minting compared to PoW minting.

So yes, all you need to do is transfer your coins to your wallet and wait... keep it open or open it back up on day 7-8 and let it stay on line. Later, you will see blocks show up and will credit you stake coins.